Topic: Bitcoin's price, and mental health. - page 9. (Read 3587 times)

Just wait until the BitCoin price crashes AGAIN, down in the 3,000's...   There will be a whole lot of people here with not only an economic crisis, but also a MENTAL HEALTH CRISIS   

Hard Facts

Read everything before saying it as wrong and I have no understanding of economics.The current scenario is not only about the economy it's more like the extinction of the world or at least people think in that way that is why they are selling to save their life because they know money can be earned but life, you can't.

BitCoin has FAILED as a fast, easy, cheap way for everyone to make transactions, that dream never came true...  Now they try to sell BitCoin as Digital Gold and a safe haven asset, and now that narrative is up in smoke, false...

I like the FREEDOM of BitCoin, but that does NOT, NOT, NOT give it value as money, and I would not invest in it...  Not wanting to LOSE my money by investing in a collapsing asset does not make me afraid, that makes me a smart investor   

Hard Facts

You're still missing the point.  The network continues to function.  Whatever happens to the price, I can still use bitcoin to send transactions where visa, mastercard, paypal, etc, will not permit me to send payments.  If I want to support an organisation like wikileaks, I am free to do that.  You will only be making payments that your bank permit you to make. 

I have my freedom.  You don't. 

If you want to scaremonger about the price of freedom, go ahead.  Have fun being a frightened little prisoner who doesn't control their own wealth.

THE VAST MAJORITY of people that have invested into BitCoin have used real money to buy it...  Many have borrowed, used retirement money, etc and have gambled with money that they can not afford to lose.    So it is understandable that the price crash of BitCoin would severely affect their MENTAL HEALTH 

I have no idea where BitCoin price is going, but the way it has crashed in this Economic Crisis is very worrying.  If you guys thing this is bad, just think how you will feel if BitCoin gets down into the 2000's

Hard Facts

that is true, that is true.  a psychiatrist will cure everyone. 
In my opinion, real cryptocurrency enthusiasts and supporters of bitcoins are people who look at the long-term future of cryptocurrencies in the future and expect real use of cryptocurrency in everyday life of a person.  To date, in my opinion, Bitcoin is underestimated in full and is used only for profit on price fluctuations.  As for the mental health of a person who somehow starts or continues his activity in the cryptocurrency market, first of all, everything depends on the nature of the person and on what is at stake.  The fact is that I started my activity with earning start-up capital thanks to the Bounty company a few years ago, and I have never invested real fiat funds in cryptocurrency.  All my assets are earned through participation in different companies and through trade.  If I lose something, then this, in my opinion, is a real process on the cryptocurrency market and I’m not going to get sick because of this.  It seems to me that such advice can be offered to other users of the forum.   

All you have to do is READ what people post here, and the huger number of people here constantly post they they " believe " in bitcoin. 

If you can not even read and remember simple English, you are not even operating on a grade school intelligence level...   Why should anyone listen to you talk about a Financial Asset   

Hard Facts

I can tell you what is really utterly stupid here. Calling someone sitting on bitcoin forum a bitcoin believer. What else do you expect when you're trying to spread fud like that? It's like sitting on vegan forum trying to convience everyone to eat meat. Someone may call you a troll. If I were you and completely dissapointed in bitcoin, I would already leave this forum for good. In case your mental health has been corrupted by recent events, you should visit a doctor as soon as possible.

UTTERLY STUPID...

To think that me posting about BitCoin here would move its market price any significant amount is actually worse than stupid, it shows that you have no connection to reality.   Just what I would expect from one of the cult member " believers "....    Any rational person that reads your post would think " what an idiot " , weather they agree with me or not.

If I had the ability to move the BitCoin market price, I would be TRADING BitCoin, and making hundreds of millions of dollars.

Hard Facts

If people get extremely worried to the point when they start contemplating suicide over their investment, it might be a big sign that they have invested too much. One of the rules of investing is only investing the money that you can afford to lose. If you put all your networth in Bitcoin or take loans to buy Bitcoin, you risk seriously screwing yourself.

So, if someone has such negative experiences, they should sell some portion of their coins on the next big upswing and hodl less coins, so that the future crashes won't be as devastating to them.

 it has a real value as an electrical space heater.

you are simply spouting nonsense to drive the price down hoping to buy some cheaply.

UTTERLY WRONG, This is the start of biggest FINANCIAL CRISIS and GLOBAL DEPRESSION the world has ever seen.   Give your statement I see you have zero understanding of economics and the everything bubble that is now popping.    Stocks, and most assets will go MUCH LOWER....

No I would never invest in stocks or anything else on " faith ", I would invest on rational analysis of every relevant fact I could get my hands on.   The fact that you demonstrate an utter ignorance of the state of the bubble economy, and the concept of investing rationally is unknown to you tells me you are the LAST PERSON anyone should ever listen to.

Hard Facts

There should be a correction this is not a financial crisis, its like a world war scenario all over the world but the enemy is something which can't be seen with our naked eyes so its called virus.And every kind of investment is something under faith, how can you be assured that stock you invested will go more value in the next few years?

Just faith right.

BitCoin supporters are NOT mature, they are cult like delusional " believers "...   And that is a VERY BAD way to invest money.   Seriously, would anyone invest in a Wall street product that sold it based on " faith " and where any negative information was DISMISSED as FUD ?

I have no idea if BitCoin will go up or down from here, but how BitCoin is crashing in its first ever FINANCIAL CRISIS should worry everyone.   My mental health would be very bad right now if I had borrowed and invested my retirement into BitCoin, since I look at reality, and not not operate on " faith "...

Hard Facts

Everybody can't take the bitcoin crash pressure easily. I remember when the Bitcoin price was 3300$, many of my known people wanted to commit suicide! Because they bought at a very high price, like 14-17K USD, Because there were rumours that Bitcoin will go for 30-40K USD! After that I stopped telling people about the crypto world, it's not for everyone! In this month, Bitcoin price crashed like hell again, people were freaking out, the good thing is, most of the crypto supporters are mature now!

At first, I lost my mind as well when I wake up from the bed and saw my portfolio values reduced almost to half of its value before I got to my bed but slowly I started to realize why this is happening and what should I do. But things didn't change and made it worse the next day still I didn't lose my hope and never had any suicidal thoughts as other weak hearted people might have.

Anyway its just a money, we can make later or even the next day itself but life is one-time offer so use it well.

Well, facts that people are being scammed and can still be scammed and the reality that despite a lot of people know that the scammed bitcoins are being moved and dumped, no one can stop it.

What part of "There's no financial incentive to run a node unless you are mining" did your brain fail to parse?

Just like people that choose to be a part of any PYRAMID or PONZI scheme, they all have a financial incentive to participate, that does NOT, NOT, NOT make it money...   A lot of networks and ponzi schemes come and go.    There can be an infinite number of financial networks created, that does NOT make a crypto real money.

Despite all your bluster and trying justify your " beliefs ", it is obvious you have a lot of " faith " but have zero understanding of what real money is....

Hard Facts

What's "real" is the global, trustless network of nodes that help secure the network.  You can't make a digital copy of people choosing to be part of a network.  There's no financial incentive to run a node unless you are mining, but people are still freely choosing to do this.  They presumably do this because they understand the importance of censorship resistance and being immune to regulatory shutdown.  In comparison, it's obvious that you are totally incapable of seeing Bitcoin as anything other than a speculative tool and that's due to your failure to comprehend.  We're not simply "naming special properties", we have physically built a network that can't be dismantled without shutting off the entire internet.

Stop talking to us as if you are qualified to speak about this subject when you clearly don't understand the first thing about network effects and utility.  It's true that there are thousands of different blockchains, but unless lots of people use those blockchains, they are just poor imitations and have little value or utility aside from mindless speculation.  Some people do attempt to speculate with Bitcoin and it is possible to lose money doing that.  But, choosing to speculate on Bitcoin does not detract from the utility Bitcoin provides (and other blockchains can't compete with).

Also, stop double-posting.  Combine your mindless drivel into a single post with multiple quotes.